Thu. Mar 28th, 2024

Chinese envoy Yao Jing has on Tuesday called on Pakistan finance minister Asad Umar to hold discussions over bilateral cooperation and the ongoing projects taken under the China-Pakistan Economic Corridor (CPEC) program.

According to ANI news reports, during the meeting, the FM briefed the Chinese ambassador over the measures undertaken by the Islamabad government to create a conducive environment to attract foreign investors.

Umar further stressed that China is among the closest ally to Pakistan and Beijing’s support and assistance is indeed for Pakistan’s socio-economic development.

Umar added saying Chinese investors and business would also be benefited through the current environment by investing in several areas of Pakistan such as energy, health, education, housing and agriculture.

The meeting comes amid reports that the International Monetary Fund (IMF) has postponed the multi-billion dollar bailout package to Islamabad arguing that Pakistan could use the aid to repay debts to China, who has yet granted multi-billion loans to Pakistan.

Umar said on Tuesday the IMF and Pakistan has reached a final bailout package agreement and all issues have been resolved. According to ANI news reports, Umar was quoted as saying, “We have reached an agreement and all the major issues have been settled and documented.”

However, the exact size of the bailout package to Pakistan still not decided, but the minister apprised the package would fall between USD 6 billion and USD 8 billion.

 

Leave a Reply

Your email address will not be published. Required fields are marked *